Provided are a phase change memory device that can operate at low power and improve the scale of integration by reducing a contact area between a phase change material and a bottom electrode, and a method for fabricating the same. The phase change memory comprises a current source electrode, a phase change material layer, a plurality of carbon nanotube electrodes, and an insulation layer. The current source electrode supplies external current to a target. The phase change material layer is disposed to face the current source electrode in side direction. The carbon nanotube electrodes are disposed between the current source electrode and the phase change material layer. The insulation layer is formed outside the carbon nanotube electrodes and functions to reduce the loss of heat generated at the carbon nanotube electrodes.